Wal-Mart's Japan stores, Seiyu, will close 30 stores
Seiyu says the stores are "not aligned with the company's strategy." It also plans to remodel about 50 stores in its next fiscal year. Wal-Mart Stores Inc. says the store closings will cost it 4 to 5 cents per share in one-time charges spread out over the next few quarters.
At the end of its latest fiscal year, which ended Jan. 31, Wal-Mart had 374 retail stores and 64 other locations in Japan.
Wal-Mart Stores Inc. bought a stake in Seiyu GK in 2002 and acquired the full company in 2008.
Source: arkansasbusiness.com